Section 194j

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2012 Dear expert,
Payment received during the FY 2011-12 is Rs. 25000/- for the professional services provided in the FY 2011-12.
And a combined payment which will be receive in July 2012 is 32000/- out of which Rs. 20000/- pertains to services provided for FY 2011-12 and remain amount of Rs. 12000/- pertains to services provided for 1st quarter of FY 2012-13.
Now please advise me, whether the deductor is liable to deduct TDS u/s 194J on payment made for FY 2011-12 or not, as payment of Rs. 20000/- in respect of FY 2011-12 is being executed in July 2012.
Thanks in advance

CA Sripal Jain

CA Sripal Jain (Expert)
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12 July 2012 TDS provsions are attracted on credit or payment whichever is earlier,the date when you credit or when you make payment is very important,as per the facts read,i guess the 20k credit is made last year and payment is made in current year,therefore 194j doesnot attracts under this case as it must exceed 30k in CURRENT year not consolidated
regards
sripal jain

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2012 should I start to get TDS deduction on payment received ie 12000/- for the services provided for FY 2012-13?

CA Sripal Jain

CA Sripal Jain (Expert)
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12 July 2012 no need to deduct TDS

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